Why the collapse of a major bank in Paraguay has the president facing impeachment
- The Ueno Bank collapse is turning into one of the biggest financial and political scandals in the history of Paraguay.
- At issue are suspected banking irregularities, hundreds of millions of dollars in public funds, and business ties between the bank and the country's president, Santiago Pena.
- The crisis was triggered on November 3, when the Paraguayan central bank (BCP) initiated resolution procedures against Ueno after determining that it had breached minimum solvency requirements.
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- The Ueno Bank collapse is turning into one of the biggest financial and political scandals in the history of Paraguay.
- At issue are suspected banking irregularities, hundreds of millions of dollars in public funds, and business ties between the bank and the country's president, Santiago Pena.
- The crisis was triggered on November 3, when the Paraguayan central bank (BCP) initiated resolution procedures against Ueno after determining that it had breached minimum solvency requirements.
Sources: DW